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Credit (CREDIT)

Correlation

0.33

Influence

10.89%

Bitcoin and Credit Correlation

Does Credit depend on Bitcoin? According to the correlation analysis, BTC and CREDIT have a moderate positive relationship. The correlation coefficient of their prices is 0.33, which was measured based on the previous 100-days' price dynamics of both cryptocurrencies.

This coefficient may vary from -1 to 1, where -1 is the strongest negative correlation, 0 is no correlation at all and 1 is the strongest positive correlation.

The negative coefficient shows that the prices of the coins are going in the contrary trend while the positive coefficient tells that the prices are going in the same direction. For instance, if Bitcoin and Credit connection is positively strong, it means that when BTC is growing CREDIT will grow as well. The negative strong relation will show that when BTC is rising CREDIT value will be in opposite lowering.

The knowledge of the correlation coefficient helps to estimate in percentage the influence of Bitcoin over Credit. If we take all the aspects affecting the price of CREDIT as 100%, then the share of BTC price among these factors will be 10.89%. The other part which is 89.11% covers all the other things, such as news, events or regulations.